In August 1998, the Russian crisis has come as a surprise to the rest of the world. Its immediate causes are well known but its real ones are not well understood. This article uses a model developed by Clifford G. Gaddy and Barry W. Ickes which shows that Russian industry has nos been reformed but continues to destroy value instead of producing it.
AFTALION, F. (1998). Une économie virtuelle. Le Figaro Economie.